Japan's Tohoku signs 15-yr LNG deal with Qatar

February 04, 2014 - 9:23:45 am

TOKYO: Japanese utility Tohoku Electric Power Co., said on Tuesday it has signed a 15-year contract to buy liquefied natural gas (LNG) from Qatargas 3 from 2016.

LNG imports by Japan, the world's top buyer of the super-cooled fuel, have jumped since the Fukushima nuclear disaster and utilities have been looking to boost supplies from North America to diversify supply sources and lower prices.

Under the new contract, Tohoku will buy 60,000 to 90,000 tonnes a year of LNG from 2016 to 2018 and about 180,000 tonnes a year from 2019 to 2030, its spokesman said.

Tohoku declined to provide any details on how the Qatar gas will be priced. (Reuters)